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| Clements, Kenneth W.. |
| Australians are among the largest consumers of marijuana in the world, and estimates show that their expenditure on marijuana is about twice that on wine. In this paper we analyse the evolution of marijuana prices in Australia and show that they have declined in real terms by almost 40 percent over the last decade. This decline is far above that experienced by most agricultural products. Why has this occurred and what are the implications? The extensive adoption of hydroponic techniques in growing marijuana is likely to have enhanced productivity, with the benefits passed onto consumers in the form of lower prices. We find patterns in the prices that divide the country into three broad regions: (i) Sydney, where prices are highest; (ii) Melbourne and... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Demand and Price Analysis. |
| Ano: 2003 |
URL: http://purl.umn.edu/57846 |
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| Clements, Kenneth W.; Qiang, Ye. |
| Henri Theil devoted a good deal of the last two decades of his professional activities to the analysis of international consumption patterns. This paper commences with a review of Theil’s path-breaking research on cross-country demand, and then investigates in some detail two important issues: (i) the extent to which differences in incomes and prices explain international consumption pattern; and (ii) new empirical evidence regarding the extent to which tastes are similar internationally. The paper also contains an evaluation of another important building block of Theil’s work in this area, that of the assumption of preference independence, whereby there are no interactions between goods in the utility function. |
| Tipo: Journal Article |
Palavras-chave: Cross-country demand; Preference independence; System-wide approach. |
| Ano: 2003 |
URL: http://purl.umn.edu/43272 |
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| Clements, Kenneth W.; Selvanathan, Saroja. |
| In this paper is presented an analysis of the consumption patterns of beer, wine and spirits for Australia using data for the period 1955/56-1985/86. The validity of the demand theory hypotheses demand homogeneity and Slutsky symmetry has been tested using recently developed distribution free procedures. The findings were that (i) beer and wine were necessities and spirits a strong luxury; (ii) beer and spirits are specific complements; and (iii) the homogeneity and symmetry hypotheses are acceptable. Preference for wine consumption seems to be independent of preference for beer and spirits. |
| Tipo: Journal Article |
Palavras-chave: Food Consumption/Nutrition/Food Safety. |
| Ano: 1991 |
URL: http://purl.umn.edu/22766 |
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| Clements, Kenneth W.. |
| Australians are among the largest consumers of marijuana in the world, and estimates show that their expenditure on marijuana is approximately twice that on wine. In the present paper, the evolution of Australian marijuana prices over the last decade is analysed, and a decline in real terms by almost 40 per cent is shown. This decline is far above that experienced by most agricultural products. Why has this occurred and what are the implications? One possible reason is the adoption of hydroponic growing techniques that have enhanced productivity and lowered costs and prices. Another reason is that laws have become softer and penalties reduced. Patterns in prices are found that divide the country into three broad regions: (i) Sydney, where prices are... |
| Tipo: Journal Article |
Palavras-chave: Crop Production/Industries. |
| Ano: 2004 |
URL: http://purl.umn.edu/117963 |
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| Clements, Kenneth W.; Lan, Yihui. |
| This paper analyses the world demand for fibers using the system-wide approach with three dimensionproduct X space X time. We investigate to what extent differences in international consumption patterns of fibers can be explained by differences in incomes and prices faced by different consumers. A novel approach to cross-country consumption comparisons is employed to avoid the troublesome problem of what exchange rates to use when converting data into a common currency unit. We use data from the ten largest consuming countries to estimate demand systems and then examine how they perform in predicting consumption patterns in a large number of out-of-sample countries. |
| Tipo: Journal Article |
Palavras-chave: Demand systems; Fibers demand; International consumption comparisons; Demand and Price Analysis. |
| Ano: 2001 |
URL: http://purl.umn.edu/15298 |
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| Meagher, G.A.; Parmenter, B.R.; Rimmer, R.J.; Clements, Kenneth W.. |
| In this paper the construction and application of ORANI-WINE is described. This is a special-purpose version of ORANI specifically designed for analysing policy questions bearing upon the alcoholic beverages sector of the Australian economy and on associated agricultural activities, especially viticulture. Details of the modifications made to ORANI are provided, and projections from ORANI-WINE of the effects of the imposition of a specific tax on domestically produced wine, equivalent to that on beer and malt in the base period, are reported. The approximately 58 per cent increase in the purchasers' price of wine induces a 16 per cent reduction in wine output, a two per cent increase in spirit production, but little effect on beer and malt output. Grape... |
| Tipo: Journal Article |
Palavras-chave: Agricultural and Food Policy; Crop Production/Industries. |
| Ano: 1985 |
URL: http://purl.umn.edu/12490 |
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